## **The Hive Cornwall**
Charity number: 1187981
# **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Contents**
|Heading|Page|
|---|---|
|Reference and administrative information|**1**|
|Trustees' report|**2**|
|Independent examiners report to the trustees|**6**|
|Statement of financial activities|**7**|
|Balance sheet|**9**|
|Statement of Cashflows|**10**|
|Notes to the financial statements|**11**|
## **Reference and Administrative Information**
**Charity name The Hive Cornwall CIO**
**Registered Charity number 1187981**
**Registered Company number CE020717**
**Registered address 3 St Clements Vean, Tregolls Road, Truro TR1 1RN Cornwall**
## **Trustees serving in the period**
Matthew Thomson
Barbara Rounsevell MBE
Amber Duddridge
**Independent Examiners**
Swell Accounting & Business Solutions Trevelga Court Newquay Cornwall TR7 3AD
## **Bankers**
The Co-operative Bank P.O. Box 250 Skelmersdale Lancashire WN8 6WT
1
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Trustees Report**
## **Structure, Governance and Management**
The Charity was registered as a Charitable Incorporated Organisation (CIO) on 14[th] February 2020 and has no paid staff, operating solely through volunteers.
## **Charitable Objects**
The charity was registered with the core purpose to process and extend the life of free surplus (waste) food into a nutritious product and provide this at no cost to disadvantaged families. The charity has registered the following charitable objects with the Charity Commission:
- General Charitable Purposes
- Education/training
- The Prevention and Relief Of Poverty
- Environment/conservation/heritage
- Economic/community Development/employment
to help:
- Children/young People
- Elderly/old People
- People with Disabilities
- Other Charities or Voluntary Bodies
- Other Defined Groups
## **Acknowledgements**
Trustees would like to thank staff and volunteers of our principal community partners CHAOS Cornwall CIC, Growing Links CIC, Liskeard & Looe Foodbank and Treverbyn Hall for supporting Hive Cornwall’s objects throughout the year. Thanks also to the Cornwall Voluntary Sector Forum Food Access Alliance for their support and encouragement.
Outside of the core Hive Cornwall partnership, the charity depended on cooperation with an ecosystem of over 30 voluntary, community and social enterprise groups across Cornwall, including Transformation CPR and DISC Newquay who were notable for the large amounts of food they were able to distribute effectively, often at very short notice. The Hive Cornwall is profoundly grateful to all in this network.
## **Activities and Achievements**
The Hive Cornwall’s main operational activities in the year were the collection and redistribution of food surplus otherwise destined to become waste, although the volumes of such food available for collection and distribution fell dramatically through the year to an average of less than one third of previous volumes.
Through the year the Hive Cornwall worked directly with 6 regular volunteers to collect and redistribute 2-3 pallets of food three times every month through the year, supplying around 110 tonnes of food to 24 community groups serving upwards of 6000 people on a regular basis. The
2
The Hive Cornwall Charity Number 1187981 Annual Report 2024
Christmas runs included donated turkeys and Christmas hampers. This was therefore a year where trustees concentrated on strengthening partnerships with wholesalers and logistics companies as well as with grassroots person-centred community food groups active in Cornwall’s diverse communities.
In keeping with our name and founding spirit, The Hive Cornwall trustees recognise their responsibility to ensure the charity works effectively as part of Cornwall’s food system. The Hive Cornwall will thrive only if it works in harmony with the businesses, organisations, communities and other stakeholders who between them comprise Cornwall’s food system. To that end, The Hive Cornwall continued to support the Sustainable Food Cornwall Partnership in developing a sustainable food strategy for Cornwall, and in particular to work with the Royal Cornwall Hospital Trust and Cornwall Council to explore opportunities to bring more local sustainable food into their standard procurement practice.
## **Reserves Policy**
The charity currently has few ongoing cost commitments which are limited to supporting an average of 4-5 collection and delivery rounds per month, and the overheads associated with fleet maintenance. The trustees have set a reserves policy to hold around 6 months’ worth of free unrestricted reserves to cover costs in the event of close down. The current unrestricted free reserves value of £34,101 represents 7.16 months.
## **Going Concern**
While the charity retains sufficient funding to continue its current operations for another 12 months, and these accounts have been prepared on that basis, trustees continue to work with its charitable and community partners to find more effective ways of fulfilling its charitable objects through the transfer of assets to them. As the local food surplus system continues to contract, trustees have consulted the Charity Commission about transferring 100% of its assets to partners to fulfil the Hive Cornwall’s charitable purposes and winding down the charity. (see Future Plans below)
## **Financial Review**
The financial results of the charity for the year are set out on page 5.
The charity's reserves are held to cover unexpected expenses and future operating deficits. There are few fixed costs and so no reserve is required to cover these in the event of closure.
- Current Free Unrestricted reserves as at 31[st ] March 2024 £34k (last year £34k)
- This represents a ratio of 7 months of our average monthly expenditure, our reserves policy sets out to maintain reserves at between 6 and 12 months to ensure we can manage the charity appropriately through periods of lower income. Our future plans set out how we will develop to maintain our reserves in line with this policy.
- Restricted reserves show a deficit of £23k. Of our £174k restricted reserves, £124k is a depreciation reserve for assets purchased with grant funding. £50k is held for delivery of services in the future.
3
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Future Plans**
The Hive Hub at Fentenfenna and the Hive Cornwall fleet of 4 vans are important assets for Cornwall’s food system – in terms both of their potential to support the production and distribution of food surplus rescued, and to support Cornwall’s community growing network. Throughout 2023 and 2024 the volumes of food surplus arising within the regional wholesale system have contracted dramatically while the amount of fresh food gleaned and grown has increased and trustees have been adapting both regular operations and the Hive Cornwall’s future plans accordingly.
The charity relies more than ever on its community partners to deliver its charitable objects, and trustees’ plans for the future are now geared to the streamlining of the Hive Cornwall’s asset register and operations so as to empower its partners as effectively as possible. In particular, trustees are working with Cornwall Council, Fentenfenna Farm CIC, Growing Links CIC and Liskeard and Looe Foodbank to adapt the original Hive vision to current circumstances, and find better ways of deploying its assets, building on the Sustainable Food Places work The Hive Cornwall helped catalyse.
On behalf of the Hive Cornwall Trustees
Trustee: Matthew Thomson
Date…31[st] January 2025
4
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Independent examiner’s report to the trustees of The Hive Cornwall**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024
## **Responsibilities and basis of report**
As the charity’s trustees of the you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2018 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in audit and, consequently, no opinion is given as to whether the accounts present a “true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that, in any material aspect, the requirements
- a) to keep accounting records in accordance with section 130 of the 2011 Act; and b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Simon Beckham Swell Accounting & Business Solutions
Dated: 27[th] January 2025
5
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Statement of Financial Activity**
|Note
**Income and Endowments**
**from**
Donations & Grants
2
Charitable Activities
3
**Total**
**Resources Expended**
**Expenditure on:**
Raising funds
4
Charitable Activities
5/6
**Total**
**Net income/(expenditure)**
**before transfers**
Total funds brought forward
**Total funds carried forward**|Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
£
£
£
£
0
4,000
4,000
34,233
0
0
0
0|
|---|---|
||0
4,000
4,000
34,233|
||0
0
0
0
0
52,546
52,546
57,089|
||0
52,546
52,546
57,089|
||0
(48,546)
(48,546)
(22,856)|
|||
||34,101
173,696
207,798
230,653|
||34,101
125,150
159,251
207,798|
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The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Statement of Financial Activity**
(to 31/03/2023)
|Note
**Income and Endowments**
**from**
Donations & Grants
2
Charitable Activities
3
**Total**
**Resources Expended**
**Expenditure on:**
Raising funds
4
Charitable Activities
5/6
**Total**
**Net income/(expenditure)**
**before transfers**
Total funds brought forward
**Total funds carried forward**|Unrestricted
Funds
Restricted
Funds
Total Funds
2023
Total Funds
2022
£
£
£
£
0
34,233
34,233
253,016
0
0
0
0|
|---|---|
||0
34,233
34,233
253,016|
||0
0
0
0
0
57,089
57,089
69,791|
||0
57,089
57,089
69,791|
||0
(22,856)
(22,856)
183,225|
|||
||34,101
196,552
230,653
47,428|
||34,101
173,696
207,798
230,653|
7
## The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Balance Sheet**
|Note
**Fixed Assets:**
Tangible Assets
13
**Total Fixed Assets**
**Current Assets:**
Debtors & prepayments
11
Cash at bank & in hand
18
**Total current assets**
**Liabilities:**
Creditors: amounts
falling due within 12
months
10
Net current assets
**Total assets less current**
**liabilities**
**The funds of the charity**
Restricted income funds
16
Unrestricted funds
15
**Total charity funds**|Total Funds 2023
£
101,856
101,856
0
58,045
58,045
(650)
57,395
**159,251**
125,150
34,101
**159,251**|Total Funds 2022
£
124,319|
|---|---|---|
|||124,319|
|||124
83,655|
|||83,779|
|||(300)|
|||83,479|
|||**207,798**|
|||173,696
34,101|
|||**207,798**|
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements were approved by the board on:
And signed on its behalf by:
Trustee: Matthew Thomson Date: 31[st] January 2023
8
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Statement of Cashflows**
|Note
**Cash flows from operating activities:**
**Net cash provided by (used in)**
**operating activities**
16
**Cash flows from investing activities**
Dividends, interest and rents from
investments
Proceeds from sale of property, plant and
equipment
Purchase of property, plant and equipment
**Net cash provided by (used in) investing**
**activities**
**Change in cash and cash equivalents in**
**the reporting period:**
**Cash and cash equivalents at the**
**beginning of the reporting period**
17
**Cash and cash equivalents at the end of**
**the reporting period**
17|Total Funds
2024
Prior Period
Funds 2023
£
£
(25,610)
(7,030)|
|---|---|
||0
0
0
0
0
0|
||0
0|
||(25,610)
(7,030)
83,655
90,685
58,045
83,655|
9
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Notes to the Financial Statements**
## **1. Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
The Hive Cornwall meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Income and endowments**
All incoming resources are included in the statement of financial activities when it is probable the charity will be entitled to the income and the amount can be quantified with reasonable accuracy.
## **Fund accounting policy**
Unrestricted Income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Further details of each fund are disclosed in notes 13, 14 and 15.
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The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **Incoming resources**
Donations are recognised on a cash receipts basis.
Incoming resources from tax reclaims are included in the statement of financial activities when received. Income from charitable activities includes income earned, which is recognised when the related goods or services are provided.
## **Resources expended**
Liabilities are recognised as soon as there is a legal obligation committing the charity to the expenditure. Expenditure is accounted for on an accruals basis where appropriate.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It Includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
Governance costs Include administrative expenses, costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
## **Support costs**
Support costs include central functions but not administrative expenses and have been allocated to activity cost categories on a basis consistent with the use of resources.
11
## The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **2. Income from Donations & Grants**
|Grants
Donations
**Total**|Unrestricted Restricted 2024 Total
2023 Total
£
£
£
£
0
4,000
4,000
34,233
0
0
0
0|
|---|---|
||0
4,000
4,000
34,233|
## **3. Income from Charitable Activities**
|Provision of meals
**Total**|Unrestricted
Restricted
2024 Total 2023 Total
£
£
£
£
0
0
0
0|
|---|---|
||0
0
0
0|
12
## The Hive Cornwall Charity Number 1187981
## Annual Report 2024
## **4. Cost of Raising Funds**
|**4. Cost of Raising Funds**|||||
|---|---|---|---|---|
||Unrestricted|Restricted|2024|2023|
||||Total|Total|
|**Costs of Raising Funds**|£|£|£|£|
|Fundraising Expenses|0|0|0|0|
|**Total**|0|0|0|0|
|**. Cost of Charitable Activities**|||||
||Unrestricted|Restricted|2024|2023|
||||Total|Total|
|**Charitable Activities**|£|£|£|£|
|Transport and Delivery|0|8,338|8,338|6,483|
|Vehicle Hire|0|0|0|4,986|
|Food Partnerships|0|15,649|15,649|4,770|
|Accountancy Fees|0|350|350|480|
|Legal Expenses|0|1,182|1,182|1,020|
|Consulting|0|3,448|3,448|11,063|
|Depreciation|0|22,463|22,463|27,210|
|IT Software and Consumables|0|420|420|202|
|Vehicle Expenses|0|347|347|179|
|Travel Expenses|0|0|0|251|
|Subscriptions|0|348|348|445|
|**Total**|0|52,546|52,546|57,089|
## **5. Cost of Charitable Activities**
13
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **6. Analysis of Support and Governance Costs**
|**. Analysis of Support**|**and Governance Costs**|
|---|---|
|Transport and Delivery
Vehicle Hire
Food Partnerships
Accountancy Fees
Legal Expenses
Consulting
Depreciation
IT Software and Consumables
Vehicle Expenses
Travel Expenses
Subscriptions
**Total**|Direct
Support Governance
2024 Total
£
£
£
8,338
0
0
6,483
0
0
0
4,986
15,649
0
0
4,770
0
0
350
480
1,182
0
0
1,020
3,448
0
0
11,063
22,463
0
0
27,210
420
0
0
202
347
0
0
179
0
0
0
251
348
0
0
445|
||52,196
0
350
57,089|
14
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **7. Net outgoing resources for the period**
Net outgoing resources is stated after charging 2024 Total 2023 Total £ £ Independent examiners remuneration 350 760
## **8. Trustee Remuneration**
No Trustee received any remuneration for acting as a trustee during the current year.
## **9. Employees**
**Employment costs** 2024 Total 2023 Total £ £ Wages and salaries 0 0
**Employee Numbers** 2024 Total 2023 Total Charitable Activities 0 0 No employee received emoluments of more than £60,000
15
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **10. Creditors: amounts falling due within one year**
|Accounts Payable|2024
2023
£
£
0
0|
|---|---|
||0
0|
## **11. Debtors and Prepayments**
|Prepayments|2024 2023
£
£
0
124|
|---|---|
||0
124|
## **12. Related Party transaction**
There were no related party transaction in the period.
16
## The Hive Cornwall Charity Number 1187981
## Annual Report 2024
## **13. Tangible Fixed Assets**
|**Cost**
At 1 April 2023
Additions
Disposals
Transfers
At 31 March 2024
**Depreciation**
At 1 April 2023
Provided in Year
On Disposals
At 31 March 2024
Net book value at 31 March 2024
Net book value at 1 April 2023
**4. Analysis of net assets**
Current Period
Fund balances as at 31 March 2024
by:
Tangible Fixed Assets
Current Assets
Current Liabilities and provisions
Total
Previous Period
Fund balances as at 31 March 2023
by:
Tangible Fixed Assets
Current Assets
Current Liabilities and provisions
Total|Leasehold
Improvements
Plant &
Machinery
Motor
Vehicles
Total
£
£
£
£
1,824
31,747
126,979
160,550
0
0
0
0
0
0
0
0
0
0
0
0
1,824
31,747
126,979
160,550
404
3,779
32,048
35,231
303
3,174
18,986
22,463
0
0
0
0
707
6,953
51,034
58,694
1,117
24,794
75,945
101,856
1,420
27,968
94,931
124,319
**between funds**
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
as represented
0
101,856
124,319
34,101
23,644
83,778
0
(350)
(350)
34,101
125,150
207,798
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
as represented
0
124,319
124,319
34,101
49,777
83,778
0
(300)
(300)
34,101
173,696
207,798|Leasehold
Improvements
Plant &
Machinery
Motor
Vehicles
Total
£
£
£
£
1,824
31,747
126,979
160,550
0
0
0
0
0
0
0
0
0
0
0
0
1,824
31,747
126,979
160,550
404
3,779
32,048
35,231
303
3,174
18,986
22,463
0
0
0
0
707
6,953
51,034
58,694
1,117
24,794
75,945
101,856
1,420
27,968
94,931
124,319
**between funds**
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
as represented
0
101,856
124,319
34,101
23,644
83,778
0
(350)
(350)
34,101
125,150
207,798
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
as represented
0
124,319
124,319
34,101
49,777
83,778
0
(300)
(300)
34,101
173,696
207,798|
|---|---|---|
|||34,101
125,150
207,798|
|||Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
0
124,319
124,319
34,101
49,777
83,778
0
(300)
(300)|
|||34,101
173,696
207,798|
## **14. Analysis of net assets between funds**
17
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **15. Analysis of Unrestricted Funds**
||At 1 April||Incoming|Outgoing|Transfers|At 31 March|
|---|---|---|---|---|---|---|
||2023||Resources|Resources||2024|
||£||£|£|£|£|
|Unrestricted|34,101||0|0|0|34,101|
|Fund|||||||
||At 1|April|Incoming|Outgoing|Transfers|At 31 March|
|||2022|Resources|Resources||2023|
|||£|£|£|£|£|
|Unrestricted|33,252||849|0|0|34,101|
|Fund|||||||
## **16. Analysis of Restricted Funds**
||At 01 April|Incoming|Outgoing|Transfers|At 31|March|
|---|---|---|---|---|---|---|
||2023|Resources|Resources||2024||
||£|£|£|||£|
|COMF-Cornwall Council|166,146|0|46,107|0||120,039|
|Soil Association|7,550|0|6,439|0||1,111|
|Sustainability Alliance|0|4,000|0|0||4,000|
||173,696|4,000|52,546|0||125,150|
Of the £125,150 restricted reserves £101,856 is a depreciation reserve for assets purchased with restricted funds. The remaining £23,294 is cash held for future delivery and services.
||At 01 April|Incoming|Outgoing|Transfers|At 31|March|
|---|---|---|---|---|---|---|
||2022|Resources|Resources||2023||
||£|£|£|||£|
|COMF-Cornwall Council|196,552|26,233|56,639|||166,146|
|SustainableFoodPlaces|0|8,000|450|0||7,550|
||196,552|34,233|57,089|0||173,696|
Of the £196,552 restricted reserves £151,528 is a depreciation reserve for assets purchased with restricted funds. The remaining £45,024 is cash held for future delivery and services.
18
The Hive Cornwall Charity Number 1187981 Annual Report 2024
## **17. Reconciliation of net income/(expenditure) to net cash flow from operating activities**
|**operating activities**|||
|---|---|---|
||2024|2023|
||£|£|
|**Net income/(expenditure) for the reporting period (as per the**|(48,546)|(22,856)|
|**statement of financial activities)**|||
|**Adjustments for:**|||
|Depreciation Charges|22,462|27,210|
|(Gains)/Losses on investments|0|0|
|Dividends, interest and rents from investments|0|0|
|Loss/(profit) on the sale of fixed assets|0|0|
|Increase/(decrease) in provision for liabilities|0|0|
|(Increase)/decrease in debtors|124|14|
|Increase/(decrease) in creditors|350|(11,398)|
|**Net cash provided by (used in) operating activities**|(25,610)|(7,030)|
## **18. Analysis of cash and cash equivalents**
||2024|2023|
|---|---|---|
||£|£|
|Cash in hand|58,045|83,655|
|**Total cash and cash equivalents**|58,045|83,655|
19